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Id Debts What is impact to taxable income based on method of accounting Year 1 -Taxpayer provides $10,000 of business services on credit Year 1
Id Debts What is impact to taxable income based on method of accounting Year 1 -Taxpayer provides $10,000 of business services on credit Year 1 -Taxpayer collects $7,000 of the receivable Year 2 -Customer notifies taxpayer that he will not pay balance Year 3 - Taxpayer collects additional $1000 settlement
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